TRUSTS

Question 1

In trust law, who are the “objects”

Answer 1

The class of beneficiaries that satisfy the complete list test

Question 2

In trusts law, what is the “subject” referring to?

Answer 2

Sufficiently objective on what the trust is giving away (property)

Question 3

How does a settlor transfer stock?

Answer 3

To the trustee: Hand the
- share certificates
- stock transfer form
And
- Make a declaration of trust

Question 4

What is the exception to the creation of a lifetime trust. (Fortuitous rule)

Answer 4

1. Donor intended to make immediate gift
2. Intention didn’t change before death
3. The donee becomes
   - executor (wills)
   - administrator/PR (intestacy)